Saint Stephens Church, Virginia Property Taxes
The median property tax rate in Saint Stephens Church, VA is 0.55%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Saint Stephens Church, the typical annual property tax bill reaches $707, which is well below the national median of $2,690. Property taxes in Saint Stephens Church are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Stephens Church's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Stephens Church or another part of King and Queen County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint Stephens Church, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Saint Stephens Church Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Stephens Church with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Stephens Church to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Saint Stephens Church, Virginia
Property taxes in Saint Stephens Church, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Stephens Church is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Saint Stephens Church set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Stephens Church estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. Understanding how Saint Stephens Church's effective property tax rate compares to other areas in King and Queen County and the national median provides valuable insights into the varying tax landscape. This helps homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Stephens Church Tax Rate
0.55%
Average King And Queen County Tax Rate
0.55%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Stephens Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23148 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Saint Stephens Church, Virginia
In Saint Stephens Church, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the King and Queen County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Saint Stephens Church, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Saint Stephens Church helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 23148 has the highest and lowest median tax bill, both at $707.
Property Tax Assessment Values Across Saint Stephens Church, Virginia
Source: Ownwell
$112,200
$144,850
$177,500
Average Saint Stephens Church Assessed Value
$128,500
Average King And Queen County Assessed Value
$136,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Stephens Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23148 | $63,980 | $89,400 | $128,500 | $197,700 | $286,180 |
Source: Ownwell
Property Tax Bills Across Saint Stephens Church, Virginia
In Saint Stephens Church, located in King and Queen County, VA, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $128,500. Property taxes here are determined by multiplying the assessed value by the local tax rate. Factors such as home improvements, neighborhood developments, and market conditions can influence the assessed value. For homeowners, this means their annual tax bill can vary significantly. For instance, the 25th percentile tax bill is around $492, while the 75th percentile tax bill reaches $1,087. Those in the 90th percentile might see tax bills as high as $1,574. Compared to the national median property tax rate of 0.99%, the tax bills in Saint Stephens Church reflect the local economic conditions and property values. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and budget accordingly.
Average Saint Stephens Church Tax Bill
$707
Average King And Queen County Tax Bill
$749
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Stephens Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23148 | $352 | $492 | $707 | $1,087 | $1,574 |
Source: Ownwell